Tax credits denied for De Anza redevelopment

The rehabilitation of the De Anza Motor Lodge on Central Avenue remains in jeopardy after tax credits that would be applied to the cost of development have been denied.

The city of Albuquerque’s Planning Department had filed an appeal with the National Park Service’s Technical Services Division for approval of the tax credits.

The NPS wants the site to be rehabilitated according to 1964 architectural design standards, and the developer is seeking 1958 standards. Rob Dickson of Paradigm and Co., the Albuquerque developer approved for the project, said the credits are necessary for the project to proceed. He said the NPS’ 1964 plan is more expensive, less appealing to the market and not more “historically pure” than his 1958 approach.

The development is planned to include 41 residential courtyard cabanas and a small cafe.

“It would be a big hit in the marketplace whenever we can get them built,” Dickson said. “The biggest risks with the passage of time are higher interest rates, tighter lending standards and higher construction costs. Those could sabotage the project.”

Albuquerque Planning Director Suzanne Lubar said the city is working with Dickson to evaluate available options. Dickson said the city, as the property owner of De Anza, could convince the NPS, a division of the Department of Interior, to approve the rehabilitation plan.

“Like most developers, I’m an optimist,” Dickson said. “It’s part of the job description.”